Financial Performance Highlights (Consolidated)

H1 FY27 (April 2026 - September 2026) Results:

  • Revenue from Operations: ₹20,587.3 lakhs, representing 99.4% YoY growth from H1 FY26 (₹10,322.6 lakhs) and 84.5% growth from H2 FY26 (₹11,160.4 lakhs)
  • EBITDA: ₹2,937.0 lakhs, up 107.5% YoY with margin improvement of 60 bps to 14.3%
  • Profit After Tax: ₹2,255.9 lakhs, up 122.2% YoY with PAT margin improvement of 120 bps to 11.0%
  • EPS: ₹18.65 (based on profit after tax)

Standalone Performance (H1 FY27):

  • Revenue from Operations: ₹20,447.1 lakhs, up 100.3% YoY
  • EBITDA: ₹2,975.7 lakhs, up 105.6% YoY with margin of 14.6%
  • PAT: ₹2,291.3 lakhs, up 114.7% YoY with PAT margin of 11.2%
  • EPS: ₹18.94

Operational and Strategic Updates

EZRM SEZ Facility Construction:

  • Full-scale construction underway at JNPT Special Economic Zone, Maharashtra
  • 4,120 sq.m plot leased for 60 years at JNPA SEZ, Raigad
  • Facility designed for nutraceutical CDMO operations with focus on advanced technologies including microencapsulation, liposomal delivery systems, and enhanced bioavailability formats
  • Construction progress includes RCC structural development, PEB warehouse structure erection, and compound wall construction
  • 55 personnel deployed at construction site
  • Bhumi Pujan ceremony held on July 19, 2025

Business Overview:

  • B2B supplier of raw ingredients for nutritional, sports, and health supplements
  • Key products include amino acids (L-Leucine, L-Isoleucine, L-Valine, L-Lysine HCL), creatine monohydrate, whey protein concentrate, and specialty ingredients
  • 28,259 sq. ft. warehousing facility in Bhiwandi, Maharashtra with blending, grinding, packing, labeling, and sealing operations
  • ISO 9001:2015, ISO 22000:2018, HALAL, and KOSHER certifications
  • Subsidiaries: Easy Raw Materials Private Limited (manufacturing & export) and Vinstar Biotech Private Limited (biotech & life sciences)

Market Context and Growth Drivers

  • India's nutraceutical market growing at 10.3% CAGR, projected to reach USD 85 billion by 2033
  • Key growth segments: sports & performance nutrition, protein fortification, metabolic & cognitive wellness, healthy ageing, and advanced formulation technologies
  • Government incentives including PLI schemes and FSSAI regulations supporting domestic manufacturing

Management Commentary

Chairman & Managing Director Ankit Shailesh Mehta highlighted:

  • H1 FY27 performance nearly matched company's entire FY26 revenue in six months
  • Margin improvement reflects strength of business model and growing customer trust
  • Continued investment in EZRM SEZ manufacturing facility as key milestone
  • Focus on research and development, product innovation, and advanced nutraceutical technologies
  • Healthy business visibility and strong sales pipeline for H2 FY27

Balance Sheet Position (Consolidated - Sep 2026)

Assets:

  • Total Assets: ₹21,851.7 lakhs (vs. ₹15,707.5 lakhs in Mar 2026)
  • Non-Current Assets: ₹3,307.3 lakhs including Property, Plant & Equipment (₹817.9 lakhs), Capital Work in Progress (₹956.9 lakhs), and Other Non-current Assets (₹1,518.0 lakhs)
  • Current Assets: ₹18,544.4 lakhs including Inventories (₹4,376.8 lakhs), Trade Receivables (₹8,949.8 lakhs), Cash & Cash Equivalents (₹3,302.0 lakhs)

Liabilities & Equity:

  • Total Equity: ₹15,228.0 lakhs including Share Capital (₹1,209.9 lakhs) and Reserves & Surplus (₹14,018.1 lakhs)
  • Current Liabilities: ₹6,433.0 lakhs including Short Term Borrowings (₹2,029.6 lakhs) and Trade Payables (₹3,430.1 lakhs)

Cash Flow (Consolidated - H1 FY27)

  • Net Cash from Operating Activities: (₹1,870.5) lakhs
  • Net Cash from Investing Activities: (₹302.5) lakhs
  • Net Cash from Financing Activities: ₹1,610.4 lakhs
  • Net Decrease in Cash: (₹562.5) lakhs

Key Management

  • Chairman & Managing Director: Ankit Shailesh Mehta (Chemical Engineering graduate, MBA in Technology Management, 11+ years entrepreneurial experience)
  • Promoter & Executive Director: Parul Shailesh Mehta (9 years nutraceutical sector experience, science graduate)
  • Promoter & Executive Director: Shailesh Vinodrai Mehta (Commerce graduate, 30+ years chemical sector experience)

Investor Relations

Investor Relations Partner: X-B4 Advisory LLP (Rasika Sawant / Aagam Shah)